Hong Kong leaders and political experts have continued to heap criticism on the economic sanctions the United States has imposed on the special administrative region, calling them “unjustified” and nothing more than “political selfishness”.
They vowed that Hong Kong will not be deterred by the penalties and will rise to the challenge.
The response came after the US administration said all goods manufactured in Hong Kong and exported to the US must be labeled “Made in China” from Sept 25.
Hong Kong is a separate member of the World Trade Organization. To be mistreated by another member breaches the rules and regulations of the international body.
Carrie Lam Cheng Yuet-ngor, Hong Kong's chief executive
Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor said on Tuesday she will file a complaint against the US move with the World Trade Organization.
“Hong Kong is a separate member of the World Trade Organization. To be mistreated by another member breaches the rules and regulations of the international body,” she said.
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Edward Yau Tang-wah, secretary for commerce and economic development, called the escalating China-US tensions “unhelpful” and have distracted from the efforts being made to combat the coronavirus pandemic.
According to World Bank forecasts in June, the global economy is expected to shrink by 5.2 percent in 2020, marking the deepest recession since World War II.
“As we’re fighting the pandemic, I think the last thing one would want is a further distraction that would disturb or disrupt the trade,” Yau said.
Samuel Tong Kai-chung, president of the Macao Political Economy Research Association, criticized the US move as merely a “political ploy” by US President Donald Trump, who thinks it will help boost his reelection chances in November’s presidential election.
He pointed out that protectionism and unilateralism are gaining momentum in the US because the US needs to use “all means” to sustain economic growth.
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Tong also decried Trump’s groundless doomsday talk of Hong Kong’s financial market. “Hong Kong is backed by the tremendous market demand of the Chinese mainland’s 1.4 billion people. How could it ‘ever go to hell’?” he asked.
Liberal Party leader Felix Chung Kwok-pan said the sanctions will not harm Hong Kong’s manufacturing sector and may even threaten US economic prospects.
“The heavy US tariffs on Hong Kong’s exports also mean that the tariffs will be paid by US consumers rather than our manufacturers,” and this may erode US importers’ profit margins and upend their supply chains, he said.
To deal with the US sanctions, the Chinese Manufacturers’ Association of Hong Kong has urged the city’s manufacturing sector to use the official “Made in Hong Kong” stamp.
“Using the ‘Made in Hong Kong’ stamp, the true origin of the exported goods could be revealed to importers and consumers, showing the uniqueness of Hong Kong products,” the CMA told China Daily.
William Xu contributed to this story.
